5G breeds business, fast: With the approaching 5G standard, new businesses are expected to emerge
The tech world is abuzz, waiting for the next big thing: the 5G radio technology standard is just around the corner, and by 2020 there should be viable business around it. But what will it actually entail? “Where you can look at previous radio communication technologies such as 2G, 3G, 4G and LTE as ramp-ups of previous tech, 5G will actually change how we think of these things,” says Janne Mustonen, Key Account Director for ICT and Nano at BusinessOulu.
It goes without saying that there will be significantly increasing wireless data demand. 5G will meet that demand, and also provide storage capable cell networks and much lower latency. All this means more efficient connectivity, especially in dense locations, like festivals, malls, large events – and at the moment, there are not that many companies who are willing to take charge of the indoor networks. “Nokia will definitely be interested in providing indoors coverage solutions in 5G,” says Jani Leskinen, Head of Oulu Technology Center in Nokia Networks. No wonder, since Nokia’s 5G white paper states the need: existing mobile technologies will not be able to provide the capabilities to meet market demands beyond 2020.
When challenges become opportunities
When an ecosystem is considered, new needs may arise, but Mustonen thinks that most of the business comes from old ones. “If you look at the game changers at the moment, they’re all based on needs people have, regardless of the technology – habitation, culture, transit – that’s AirBnB, Netflix and Uber.”
From a network manufacturer’s perspective, low latency and a large bandwidth rate offer flexible uses for various purposes. “If you think in terms of self-driving cars or automatic factory robotics, 5G will enable various new applications and solutions that are low latency dependent,” Jani Leskinen says.
Meet the team
It would seem feasible that when planning for the next global network standard it might get done as an international spearhead project. Then again, perhaps we just do things differently in Oulu. “We get the hardware from Nokia, financing from VTT, OUAS and the University of Oulu, while the City of Oulu acts as a connector,” says Mustonen.
With 40 years of radio technology in Oulu, the development and testing of 5G seems a given. However, new solutions should be found from the rim of the tech game: “We’re looking for transferrable solutions, something that worked once and that can be made to work in a different situation,” explains Janne Mustonen. The possibilities have not gone unnoticed: companies from Spain have already been in touch concerning collaboration and testing the network, once it gets built.
Janne Mustonen, Key Account Director, ICT and Nano,email@example.com
Jani Leskinen, Head of Oulu Technology Center
Download the Nokia white paper on 5G here